Gold LBMA Data

The LBMA Gold Price is a regulated benchmark administered by ICE Benchmark Administration (IBA) who provide the auction platform, the methodology and the overall independent administration and governance for the LBMA Gold Price. However the LBMA holds the intellectual property rights. The LBMA Gold Price continues to be set twice daily (at 10:30 and 15:00 London BST) in US dollars and other currencies. Prices are also published in a further sixteen currencies (Australian Dollars, British Pounds, Canadian Dollars, Euros, Onshore and Offshore Yuan, Indian Rupees, Japanese Yen, Malaysian Ringgit, Russian Rubles, Singapore Dollars, South African Rand, Swiss Francs, New Taiwan Dollars, Thai Baht and Turkish Lira) and these are indicative prices for settlement only. The IBA's platform provides an electronic, auction-based, tradeable, auditable and fully IOSCO-compliant solution for the London bullion market. The process for deriving the benchmark price is as follows : the chairperson sets a starting price and the price for each round in line with current market conditions and the activity in the auction. Participants then can enter their buy and sell orders by volume (in number of ounces). The price discovery process is in US Dollars but participants may, if they wish, request to settle in other currencies. If the net volume of all participants fall within the pre-determined tolerance at the end of a round (i.e. the imbalance is set at 10,000 oz.), the auction will be complete, with all volume tradeable at that price. Netting of orders is processed automatically for participants with all house and client orders, plus any share of the imbalance, contributing to their final net volume. This net volume is then matched against other participants to produce trades with immediate trade confirmations. The auction process is hosted on the WebICE platform which provides real-time order management, including direct order management on-screen, separation of house and client orders, live credit limit controls, full audit history, advanced Excel integration and automated notification of filled trades. The direct participants who have been accredited to contribute to the LBMA Gold Price process are: Bank of China, Bank of Communications, China Construction Bank, Goldman Sachs International, HSBC Bank USA NA, Industrial and Commercial Bank of China (ICBC), INTL FCStone, JP Morgan, Jane Street Global Trading LLC, Morgan Stanley, Societe Generale*, Standard Chartered, The Bank of Nova Scotia - ScotiaMocatta, The Toronto Dominion Bank and UBS.